“Maxed Out” Set with Magnolia, Truly Indie and Red Envelope

"Maxed Out" Set with Magnolia, Truly Indie and Red Envelope

Magnolia Home Entertainment, Truly Indie and Netflix‘s Red Envelope Entertainment have jointly acquired North American rights to James Spurlock‘s South by Southwest Film Festival special jury prize winner “Maxed Out” for theatrical and DVD release, the companies announced Friday. Directed by Scurlock and edited by Alexis Spraic, the feature is a journey inside the American debt-style, where, according to a release, “things seem fine as long as the minimum monthly payment arrives on time.” The film shows how the modern financial industry really works, explains the true definition of “preferred customer” and reveals why the poor are getting poorer and the rich getting richer. The deal was negotiated by Magnolia’s head of acquisitionsTom Quinn, head of business Affairs Jason Janego along with Bahman Naraghi, head of Red Envelope Entertainment as well as Red Envelope’s head of acquisitions and distribution Liesl Copland. Josh Braun of Submarine Entertainment and Roger E. Kass represented the filmmaker. “This film is an excellent blend of humor and drama that lays bare the reality behind credit card debt in America,” said Naraghi in a statement. “‘Maxed Out’ is exactly the kind of film that we are pleased to be able to bring to a wider audience.” [Brian Brooks]